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Enhancing Trust in Transaction Monitoring: The Role of Explainable AI

Enhancing Trust in Transaction Monitoring: The Role of Explainable AI

Secure. Automate. – The FluxForce Podcast
• 6 min
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This podcast episode explores the transformative impact of Explainable AI (XAI) on transaction monitoring systems within the banking sector. It emphasizes the necessity for transparency in AI-driven fraud detection, highlighting the consequences of opaque systems, such as regulatory penalties and high false positive rates. By implementing XAI, financial institutions can improve audit readiness, foster collaboration between compliance teams, and streamline the investigation process, ultimately shifting the perception of AI from a black box to a reliable decision-making tool.